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Bowhead Specialty Holdings Inc.(BOW)Earnings, Financials & Key Ratios
BOW•NYSE•Insurance & Managed Care
$24.72
$812M mkt cap·15.5× P/E·Price updated May 6, 2026
SectorFinancial ServicesIndustryProperty & Casualty InsuranceSub-IndustrySpecialty and excess surplus insurers
AboutBowhead Specialty Holdings Inc. provides specialty property and casualty insurance products in the United States. It underwrites casualty insurance solutions for risks in the construction, distribution, heavy manufacturing, real estate, and hospitality segments; professional liability insurance solutions for financial institutions, private and public directors and officers liability insurance, errors and omissions liability insurance, and cyber segments; and healthcare solutions for hospitals, senior care providers, managed care organizations, miscellaneous medical facilities, and healthcare management liability segments. The company distributes its products through distribution partners in wholesale and retail markets. Bowhead Specialty Holdings Inc. was formerly known as Bowhead Holdings Inc. and changed its name to Bowhead Specialty Holdings Inc. in March 2024. The company was founded in 2020 and is based in New York, New York. Bowhead Specialty Holdings Inc. operates as a subsidiary of Bowhead Insurance Holdings LP.Show more
- Revenue$552M+29.6%
- Combined Ratio87.8%-0.4%
- Net Income$54M+40.6%
- Return on Equity13.14%-3.4%
- Medical Cost Ratio67.91%+3.0%
- Operating Margin12.2%+2.8%
- Net Margin9.75%+8.5%
- ROA2.67%-6.3%
- Equity / Assets18.9%-15.6%
- Book Value per Share13.32+6.7%
- Tangible BV/Share13.32+15.3%
BOW Key Insights
Bowhead Specialty Holdings Inc. (BOW) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Profitable underwriting: 87.8% combined ratio
✗Weaknesses
- ✗Shares diluted 13.4% in last year
- ✗Trading more than 30% below 52-week high
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
BOW Price & Volume
Bowhead Specialty Holdings Inc. (BOW) stock price & volume — 10-year historical chart
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BOW Growth Metrics
Bowhead Specialty Holdings Inc. (BOW) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years-
3 Years43.26%
TTM27.5%
Profit CAGR
10 Years-
5 Years-
3 Years68.43%
TTM36.84%
EPS CAGR
10 Years-
5 Years-
3 Years64.07%
TTM32.06%
Return on Capital
10 Years17.48%
5 Years17.48%
3 Years3.72%
Last Year3.35%
BOW Recent Earnings
Bowhead Specialty Holdings Inc. (BOW) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 8/12 qtrs (100%)●Beat Revenue 4/12 qtrs (50%)
Q2 2026Latest
May 5, 2026EPS
$0.48
Est $0.42
+14.3%
Revenue
$217M
Est $212M
+2.4%
Q1 2026
Feb 24, 2026EPS
$0.47
Est $0.45
+4.4%
Revenue
$224M
Est $217M
+3.4%
Q4 2025
Nov 4, 2025EPS
$0.47
Est $0.40
+17.5%
Revenue
$144M
Est $146M
-1.4%
Q3 2025
Aug 5, 2025EPS
$0.37
Est $0.36
+2.8%
Revenue
$133M
Est $142M
-6.2%
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 5, 2026 | $0.48vs $0.42+14.3% | $217Mvs $212M+2.4% |
| Q1 2026 | Feb 24, 2026 | $0.47vs $0.45+4.4% | $224Mvs $217M+3.4% |
| Q4 2025 | Nov 4, 2025 | $0.47vs $0.40+17.5% | $144Mvs $146M-1.4% |
| Q3 2025 | Aug 5, 2025 | $0.37vs $0.36+2.8% | $133Mvs $142M-6.2% |
Based on last 12 quarters of dataView full earnings history →
BOW Peer Comparison
Bowhead Specialty Holdings Inc. (BOW) competitors in Specialty and excess surplus insurers — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 KNSL | 7.03B | 303.58 | 14.02 | 18.04% | 27.48% | 28.05% | 0.11 | |
 RLI | 4.51B | 49.01 | 11.24 | 6.33% | 20.8% | 22% | 0.06 | |
 JRVR | 207.09M | 4.51 | 5.70 | -2.83% | 4.34% | 4.72% | 0.49 | |
 SKWD | 1.95B | 43.84 | 10.77 | 23.18% | 11.82% | 18.15% | 0.12 | |
 HRTG | 887.78M | 28.72 | 14.29 | 11.08% | 17.72% | 41.44% | 0.49 | |
 WRB | 24.76B | 66.12 | 14.86 | 7.82% | 12.1% | 18.86% | 0.29 | |
 MKL | 22.34B | 1785.58 | 10.55 | -0.96% | 10.7% | 9.56% | 0.23 | |
 HIG | 36.71B | 133.49 | 10.02 | 7.1% | 14.13% | 22.01% | 0.23 |
Compare BOW vs Peers
Bowhead Specialty Holdings Inc. (BOW) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
BOW Income Statement
Bowhead Specialty Holdings Inc. (BOW) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|
| Revenue | 187.6M | 283.42M | 425.59M | 551.54M | 583.59M |
| Revenue Growth % | - | 51.07% | 50.16% | 29.59% | 27.5% |
| Medical Costs & Claims | 126.95M | 187.22M | 280.5M | 374.54M | 382.79M |
| Medical Cost Ratio % | 67.67% | 66.06% | 65.91% | 67.91% | 65.59% |
| Gross Profit | 60.65M▲ 0% | 96.2M▲ 58.6% | 145.1M▲ 50.8% | 177M▲ 22.0% | 200.8M▲ 0% |
| Gross Margin % | 32.33% | 33.94% | 34.09% | 32.09% | 34.41% |
| Gross Profit Growth % | - | 58.62% | 50.83% | 21.99% | - |
| Operating Expenses | 45.99M | 64.09M | 94.56M | 109.7M | 127.4M |
| OpEx / Revenue % | 24.51% | 22.61% | 22.22% | 19.89% | 21.83% |
| Depreciation & Amortization | 727K | 2.27M | 3.87M | 1.78M | 1.38M |
| Combined Ratio % | 92.19% | 88.67% | 88.13% | 87.8% | 87.42% |
| Operating Income | 14.66M▲ 0% | 32.12M▲ 119.1% | 50.53M▲ 57.4% | 67.3M▲ 33.2% | 73.4M▲ 0% |
| Operating Margin % | 7.81% | 11.33% | 11.87% | 12.2% | 12.58% |
| Operating Income Growth % | - | 119.05% | 57.36% | 33.17% | - |
| EBITDA | 15.39M | 34.38M | 54.4M | 69.08M | 74.78M |
| EBITDA Margin % | 8.2% | 12.13% | 12.78% | 12.52% | 12.81% |
| Interest Expense | 0 | 0 | 725K | 2.01M | 1.76M |
| Non-Operating Income | 0 | 0 | -725K | -2.01M | -1.76M |
| Pretax Income | 14.66M▲ 0% | 32.12M▲ 119.1% | 50.53M▲ 57.4% | 67.3M▲ 33.2% | 73.4M▲ 0% |
| Pretax Margin % | 7.81% | 11.33% | 11.87% | 12.2% | 12.58% |
| Income Tax | 3.4M | 7.07M | 12.29M | 13.51M | 15.03M |
| Effective Tax Rate % | 23.22% | 22.01% | 24.32% | 20.08% | 20.47% |
| Net Income | 11.26M▲ 0% | 25.05M▲ 122.5% | 38.24M▲ 52.7% | 53.79M▲ 40.6% | 58.37M▲ 0% |
| Net Margin % | 6% | 8.84% | 8.99% | 9.75% | 10% |
| Net Income Growth % | - | 122.52% | 52.69% | 40.64% | 36.84% |
| EPS (Diluted) | 0.36▲ 0% | 0.79▲ 119.4% | 1.29▲ 63.3% | 1.59▲ 23.3% | 1.75▲ 0% |
| EPS Growth % | - | 119.44% | 63.29% | 23.26% | 32.06% |
| EPS (Basic) | 0.36 | 0.79 | 1.31 | 1.64 | - |
| Diluted Shares Outstanding | 31.53M | 31.53M | 29.68M | 33.65M | 33.28M |
BOW Balance Sheet
Bowhead Specialty Holdings Inc. (BOW) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|
| Total Assets | 565.21M | 1.03B | 1.65B | 2.37B | 2.48B |
| Asset Growth % | - | 81.86% | 60.94% | 43.35% | 159.32% |
| Total Investment Assets | 282.92M | 0 | 889.99M | 1.37B | 4M |
| Long-Term Investments | 282.92M | 0 | 0 | 0 | 0 |
| Short-Term Investments | 282.92M | 0 | 889.99M | 1.37B | 1.52B |
| Total Current Assets | 670.44M | 118.07M | 1.1B | 1.6B | 1.66B |
| Cash & Equivalents | 64.66M | 118.07M | 97.48M | 233.77M | 141.53M |
| Receivables | 93.02M | 39.92M | 319.33M | 0 | 840.48M |
| Other Current Assets | 155.29M | -39.92M | -357.31M | 0 | 0 |
| Goodwill & Intangibles | 13.67M | -269.03M | 27.63M | 0 | 65.65M |
| Goodwill | 0 | -288.44M | 0 | 0 | 0 |
| Intangible Assets | 13.67M | 19.41M | 27.63M | 0 | 0 |
| PP&E (Net) | 6.05M | 7.6M | 6.84M | 10.64M | 11.31M |
| Other Assets | -407.87M | 610.34M | -7.29M | 0 | 0 |
| Total Liabilities | 481.83M | 835.78M | 1.28B | 1.92B | 2.02B |
| Total Debt | 0 | 0 | 4.3M | 0 | 0 |
| Net Debt | -64.66M | -118.07M | -93.18M | -233.77M | -141.53M |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 |
| Short-Term Debt | 0 | 0 | 1.5M | 0 | 0 |
| Total Current Liabilities | 0 | 0 | 1.57M | 314K | 6.21M |
| Accounts Payable | 23.69M | 40.44M | 51.86M | 0 | 0 |
| Deferred Revenue | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | -37.23M | -55.38M | -71.36M | 314K | 6.21M |
| Deferred Taxes | 1000K | 0 | 1000K | 0 | 0 |
| Other Liabilities | 343.76M | 835.78M | 873.36M | 1.92B | 2.01B |
| Total Equity | 83.37M▲ 0% | 192.08M▲ 130.4% | 370.44M▲ 92.9% | 448.27M▲ 21.0% | 457.9M▲ 0% |
| Equity Growth % | - | 130.38% | 92.86% | 21.01% | 75.73% |
| Shareholders Equity | 83.37M | 192.08M | 370.44M | 448.27M | 457.9M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 |
| Retained Earnings | -381K | 24.67M | 62.91M | 116.69M | 132.71M |
| Common Stock | 0 | 240K | 327K | 328K | 328K |
| Accumulated OCI | -16.69M | -11.37M | -11.15M | 5.35M | -3.12M |
| Return on Equity (ROE) | 13.5% | 18.19% | 13.6% | 13.14% | 13.39% |
| Return on Assets (ROA) | 1.99% | 3.14% | 2.85% | 2.67% | 2.63% |
| Equity / Assets | 14.75% | 18.69% | 22.39% | 18.9% | 18.47% |
| Debt / Equity | - | - | 0.01x | - | 0.00x |
| Book Value per Share | 2.64 | 6.09 | 12.48 | 13.32 | 13.76 |
| Tangible BV per Share | 2.21 | 14.62 | 11.55 | 13.32 | 13.76 |
BOW Cash Flow Statement
Bowhead Specialty Holdings Inc. (BOW) cash flow — operating, investing & free cash flow history
| Line item | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|
| Cash from Operations | 181.64M | 236.22M | 294.29M | 331.59M | 331.59M |
| Operating CF Growth % | - | 30.05% | 24.58% | 12.67% | 80.56% |
| Operating CF / Revenue % | 96.82% | 83.35% | 69.15% | 60.12% | 56.82% |
| Net Income | 11.26M | 25.05M | 38.24M | 53.79M | 58.37M |
| Depreciation & Amortization | 727K | 2.27M | 3.87M | 1.78M | 412K |
| Stock-Based Compensation | 368K | 683K | 4.1M | 7.24M | 1.74M |
| Deferred Taxes | -2.97M | -4.36M | -6.17M | -6.53M | -2.7M |
| Other Non-Cash Items | 570K | -2.27M | -532K | 3.94M | 192.46M |
| Working Capital Changes | 171.69M | 214.86M | 254.77M | 271.37M | 97.2M |
| Cash from Investing | -187.46M | -274.76M | -325.88M | -464.39M | -474.97M |
| Capital Expenditures | -3.97M | -3.82M | -3.11M | -5.57M | -55K |
| Acquisitions | 0 | 0 | 0 | 0 | 0 |
| Purchase of Investments | -198.29M | -367.25M | -612.93M | -828.16M | -161.99M |
| Sale/Maturity of Investments | 14.81M | 96.3M | 290.16M | 369.34M | 126.48M |
| Other Investing | 0 | 0 | 0 | 0 | -439.4M |
| Cash from Financing | -1M | 77.66M | 133.89M | 144.52M | 145.56M |
| Dividends Paid | -25M | 0 | 0 | 0 | 0 |
| Share Repurchases | -25M | 0 | 0 | 0 | 0 |
| Stock Issued | 24M | 77.66M | 133.82M | 0 | 0 |
| Debt Issuance (Net) | -1000K | 1000K | 0 | 1000K | 1000K |
| Other Financing | 26M | -77.66M | 64K | -5.48M | -833K |
| Net Change in Cash | -6.81M▲ 0% | 39.12M▲ 674.1% | 102.29M▲ 161.5% | 11.71M▼ 88.6% | 18.08M▲ 0% |
| Exchange Rate Effect | 0 | 1K | 0 | 0 | 0 |
| Cash at Beginning | 87.47M | 80.65M | 119.77M | 222.06M | 233.77M |
| Cash at End | 80.65M | 119.77M | 222.06M | 233.77M | 141.53M |
| Free Cash Flow | 177.67M▲ 0% | 232.41M▲ 30.8% | 291.18M▲ 25.3% | 326.02M▲ 12.0% | 341.86M▲ 0% |
| FCF Growth % | - | 30.81% | 25.29% | 11.97% | 15.27% |
| FCF Margin % | 94.71% | 82% | 68.42% | 59.11% | 58.58% |
| FCF per Share | 5.64 | 7.37 | 9.81 | 9.69 | 9.69 |
BOW Key Ratios
Bowhead Specialty Holdings Inc. (BOW) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|
| Combined Ratio | 88.67% | 88.13% | 87.8% | 87.42% |
| Medical Cost Ratio | 66.06% | 65.91% | 67.91% | 65.59% |
| Return on Equity (ROE) | 18.19% | 13.6% | 13.14% | 13.39% |
| Return on Assets (ROA) | 3.14% | 2.85% | 2.67% | 2.63% |
| Equity / Assets | 18.69% | 22.39% | 18.9% | 18.47% |
| Book Value / Share | 6.09 | 12.48 | 13.32 | 13.76 |
| Debt / Equity | - | 0.01x | - | 0.00x |
| Revenue Growth | 51.07% | 50.16% | 29.59% | 27.5% |
BOW SEC Filings & Documents
Bowhead Specialty Holdings Inc. (BOW) SEC filings — annual & quarterly reports (10-K, 10-Q)
BOW Frequently Asked Questions
Bowhead Specialty Holdings Inc. (BOW) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Bowhead Specialty Holdings Inc. (BOW) grew revenue by 29.6% over the past year. This is strong growth.
Yes, Bowhead Specialty Holdings Inc. (BOW) is profitable, generating $58.4M in net income for fiscal year 2025 (9.8% net margin).
Dividend & Returns
Bowhead Specialty Holdings Inc. (BOW) has a return on equity (ROE) of 13.1%. This is reasonable for most industries.
Industry Metrics
Bowhead Specialty Holdings Inc. (BOW) has a combined ratio of 87.8%. A ratio below 100% indicates underwriting profitability.
Explore More BOW
Bowhead Specialty Holdings Inc. (BOW) financial analysis — history, returns, DCA and operating performance tools
Total Return Calculator
Historical returns with dividends reinvested
DCA Calculator
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Dividend History
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Earnings History
EPS trends, net income & profitability
Price History
Long-term charts & historical price data
Revenue History
Sales growth patterns & revenue breakdown
Financial Ratios
30 years of market, efficiency and balance-sheet ratios
Valuation
DCF intrinsic value, peer multiples & estimates